Premium men's lifestyle brand DaMENSCH raises Rs 122.5 cr in funding

Currently, the portfolio of DaMENSCH has 200 plus stock-keeping units (SKUs) listed across more than 15 categories and has made more than 10 M shipments to over 10,000 pin codes across the country.

DaMENSCH, a premium men’s lifestyle brand, has raised $16.4 million (Rs 122.5 crores) in a series B fundraise led by A91 Partners. Existing investors Saama Capital, Matrix Partners and Whiteboard Capital also participated in the round. The brand would use funds to make investments in technology and to strengthen and diversify the product portfolio

“Our products are addressing a big white space in the wardrobe of the modern man. We have clocked Rs 100 crore ARR (annual recurring revenue) in 2021 making us the fastest D2C (direct to consumer)  apparel brand to reach this milestone, on the back of our strong consumer proposition”, said Anurag Saboo, co-founder DaMENSCH. “We are targeting 3x growth in the coming financial year through meaningful product-market and channel expansion.”

Currently, the portfolio has more than 200 stock-keeping units (SKUs) listed across more than 15 categories and has made more than 10 million shipments to over 10,000 pin codes across the country.

Gaurav Pushkar, co-founder - DaMENSCH, said innovation is core to the company. “We started this journey by creating unique products like bamboo vests and deodorizing underwear,” said Pushkar. “From the 500-day warranty on our Constant Loungewear collection to Mozzarella stretch chino shorts, we continue to leverage fabric engineering to redefine menswear. In 2022, we will deepen our presence in the innerwear, loungewear, sleepwear, and everyday-wear categories.”

Prasun Agarwal, partner at A91 Partners, said DaMENSCH has become the go-to brand for affluent men who are looking for new age, digital first clothing brands that can combine comfort and style and gives them a chance to upgrade their products and brands.

“With a meaningful (40 per cent) set of consumers shopping multiple (2-3) times a year, DaMENSCH has managed to grow on the back of loyalty from existing customers and continuous addition of new customer segments," said Agarwal.

Ash Lilani, managing partner, Saama Capital, said the brand’s combination of product quality and customer experience makes it one of the most exciting D2C plays in India. “Gaurav (Pushkar)  and Anurag (Saboo) have put together a top-quality team and are poised to scale significantly over the next few years,” said Lilani.

Another investor Anshu Prasher, general partner, Whiteboard Capital, said the venture capital firm has been highly impressed by the strong product innovation and customer-centric business DNA of DaMENSCH. “We are excited to partner with A91 as we continue on this journey of efficient and unit economics driven growth,” said Prasher.

Sudipto Sannigrahi, principal, Matrix India, said DaMENSCH has achieved tremendous growth over the last 12 months and is poised to be the leading mass-premium brand for the men’s apparel category in India. “Anurag and Gaurav’s customer-obsessed approach and the superior quality of the product truly sets them apart, and  we are thrilled to be doubling down on our investment.”